Why Is Palantir Stock Plummeting Today?
Shares of Palantir (NASDAQ: PLTR) are sinking on Thursday, down 6.4% as of 1:12 p.m ET. The move comes as the S 500 and the Nasdaq Composite lost 1.1% and 1.7%, respectively.
The artificial intelligence (AI) powerhouse is seeing its stock fall amid a larger sell-off as investors weigh macro news and stretched valuations in tech.
While the government shutdown means no official job numbers from the Bureau of Labor and Statistics (BLS), according to a report from the firm Challenger, Gray Christmas, job cuts for October totaled 153,074. That's up 183% from September and is the most cuts for the month of October since 2023.
Source Fool.com
